We’ve all heard about CRM, which stands for Customer Relationship Management. Customers are important as no business exists without its customer base. And, of course, the way a company manages its customer database determines its business success.

But, let’s talk about the “R” in “CRM”. Relationships are, by far, the most important part of the trendy acronym – CRM.

Why? Because relationships are a bridge between your business offering and your customer needs. In fact, the majority of businesses that consider adopting a CRM system, first and foremost, are looking for a way to improve the quality and consistency of their relationships with customers and build customer loyalty.

This means that they want to improve their core business processes – managing contact information and streamlining their relations with customers.

According to Software Advice, contact management is the number one feature that is requested by 88% of CRM users, followed by the ability to track customer interactions (80%) and schedule tasks and set up reminders (75%).

Better relationships make higher customer satisfaction

As your company grows, so does your customer database. Eventually it becomes more and more difficult to centralize and streamline your communications with customers, both potential and existing. Important conversations are hidden in emails, scattered around in spreadsheets, lost on Post-it notes, leading to patchy and inconsistent interactions with customers.

All of this leads to – simply and plainly – you losing money. But, worry not! Studies show that the answer to this problem could be a CRM system. A report by Software Advice claims that 74% of all CRM adopters found that CRM “offered improved access to customer data”; meanwhile 61% of sales distributors claimed CRM allowed them to easier access to key customer information and data.

As per study, revealed that 47% of CRM users claimed that customer retention and satisfaction were significantly impacted by the use of a CRM system.

CRM benefits to make your customer relationships better

  • Better knowledge of customers
  • Better segmentation
  • Better customer retention
  • Better anticipation of needs
  • Better and speedier communication
  • Better protection of data privacy

Customer relationships as a business priority

A customer is more than just a sales opportunity. You can have the most amazing product to offer, but if you don’t treat your customer right, you won’t sell a thing! That’s why building good relationships with them is every business number one priority.

And this is exactly what a CRM does best – helps you maintain great relationships with customers, by treating each and every one individually, not forgetting about them, and being there when they need you.

Also, in the face of the new EU privacy law, a GDPR-compliant CRM system is a powerful tool to strengthen your bond with your customers, as it will build deeper trust with your contacts since their personal information is going to be handled securely and professionally.

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Bigdbiz Solutions 13 Nov 2021

CRM Software is a system which helps to increase the relationship with existing customers, determine new customers etc.

Bigdbiz Solutions 13 Aug 2021

Many companies use spreadsheets for storing their customer data.